In a recent published report, Kenneth Research has updated the market report for Security Orchestration Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Security Orchestration Market products.
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The Security Orchestration Market is estimated to record a significant growth throughout the forecast period. The ICT sector constitutes 4.8% of the European economy. Europe’s organization ERDF i.e. European Regional Development Fund has allotted approximately USD 23 billion for investments related to ICT during the funding period 2014-2020. ICT refers to the communication technologies including the internet, wireless networks, social networking, cell phones, video-conferencing, computers, software, and other media applications and services enabling users to access, retrieve, and manipulate information in a digital form.
Market Scenario
Security orchestration is defined as the method of connecting security tools with existing security systems to better operate organizations’ security operations. Technological integration with the existing tools allows enterprises to adopt advanced security technologies using both internal and external resources.The key players in the global security orchestration market are FireEye, Inc. (U.S.), Cisco Systems, Inc. (U.S.), Intel Security (U.S.), IBM Corporation (U.S.), Huawei Technologies (China), Hexadite (U.S.). In the light of recent market developments, FireEye, Inc., a prominent player in security orchestration market offers solutions and services associated with security orchestration.
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The solutions offered by the company help the users improve their response time, minimize risk exposure, and maintain a process consistency throughout the security program. Cisco Systems is another significant player in security orchestration market. Their security orchestration solutions help enterprise network management team to manage all the operation related to the security program. They also provide security solutions for cloud-based application and minimizes complexity.
The key factors driving the security orchestration market include the rapid deployment of cloud-based solutions, growth in the BYOD trend and increasing security breach incidents. Moreover, enterprises are deploying security orchestration solutions to protect the networks from data breaches and threats. However, a combination of security analytics with security orchestration can create market opportunities in future.Global security orchestration market is estimated to grow at CAGR of approximately 15% during the forecast period of 2017-2023.
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Key Players
Some of the prominent players in the global security orchestration market are FireEye, Inc. (U.S.), Cisco Systems, Inc. (U.S.), Intel Security (U.S.), IBM Corporation (U.S.), Huawei Technologies (China), Hexadite (U.S.), Phantom Cyber Corporation (U.S.), Tufin (Israel), Swimlane LLC (U.S.), and CyberSponse Inc. (U.S.) and others.
Segments
The global security orchestration market is segmented into component, application, deployment, organization size, and vertical. The component segment consists of solution and service. The service segment is bifurcated into professional services, consulting services, training and education, support and maintenance and managed services. The application segment is bifurcated into threat intelligence, network forensics, ticketing solutions, compliance management and others. The deployment segment consists of cloud and on-premise. The organization size segment comprises small and medium enterprise and large enterprises. The end-user segment consists of BFSI, energy and utilities, government, healthcare, retail, IT & telecommunication and others.
Regional Analysis
The global security orchestration market is studied in North America, Europe, Asia Pacific and Rest of the World. North America market is expected to have the largest market share in the global security orchestration market owing to the presence of major players, well-established research & development center and demand for cutting-edge security technology. Asia Pacific region is expected to be fastest growing in the security orchestration market. The growth in the region is attributed to rising adoption of cloud-based security solutions and need for advanced security solutions to combat cyber-attacks.
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Intended Audience
Technology Investors
Research/Consultancy Firms
Software Providers
System Integrators
Independent software vendors
Consulting firms
Value-Added Resellers (VARs)
Managed Security Service Providers (MSSPs)
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